The US Bureau of Labor Statistics estimates that 275,000 additional nurses are needed in the workforce. This shortage is expected to intensify in the coming years given that one million registered nurses are expected to retire by 2030.

The need for nursing leadership is just as dire. Studies have shown that over 50% of nurse leaders plan to leave their current positions within the next five years. This is a troubling trend since nursing leadership turnover costs healthcare organizations millions of dollars every year and has proven to have a negative impact on nurse retention as well as patient outcomes. 

Healthcare organizations can better position themselves to navigate the current and future nursing shortages by evaluating their benefit plans. Traditionally, nurses have been offered standard benefit plans that were not designed to meet the demands of a nursing shortage or the differing needs of the various types of nursing professionals. Plans that are tailored to meet nurses' needs can have a bigger impact on attraction and retention.

MaxWorth has four solutions for rewarding nurses, and each of them is designed with a specific group of professionals in mind.